SoftPro Systems Ltd is planning to acquire two companies by the end of the next financial year. The company is looking for targets in US and UK.

K Vijay Rao, Vice Chairman - Soft Pro told BS that the company is looking to strengthen its position in governance, risk and compliance solutions space through both organic and inorganic route. 

Earlier in June, Softpro acquired South Africa based - Cura Risk Management Software Proprietory Ltd for $19 Mn in an all cash deal. Softpro made an upfront payment of $16 Mn, while the balance $3 Mn woud be paid over the next three years depending on the performance.

Incorporated in 1994, SoftPro provides IT soltions, which include enterprise portals, application software development and technology integration to companies in the BFSI, retail and telecom sector.

SoftPro Systems posted a PAT of Rs 4.70 Mn for the quarter ended Sept'09 as compared to Rs.7.70 Mn for the same period last year.

SoftPro, which has set an internal target of achieving consolidated revenues of $200 Mn in the next five years, projects its revenues to touch $10 Mn this financial year, as against $7 Mn last fiscal.

The Indian IT space has seen as many as eight outbound M&A deals in the last two months.